El Shams Pyramids turns to losses in H1

Updated 8/15/2023 10:52:00 AM
El Shams Pyramids turns to losses in H1

Arab Finance: El Shams Pyramids for Hotels and Touristic Projects incurred net losses after tax amounting to $965,213 during the first quarter (H1) of 2023, versus net profits of $595,435 during the same half a year earlier, the firm’s financial statement revealed on August 15th.

The company's revenue loss rose to $303.806 during the six-month period ended June 30th from $252,499 during the first six months of 2022.

Al Shams Housing is primarily focused on the purchase and lease operations of lands for the purpose of developing, managing, selling, and leasing out property and buildings, as well as offering contracting, construction, maintenance, and management services to residential, touristic, and administrative structures.

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